While Fashion Week is really the only time when celebrities take a back seat to designers and fashion editors (although some might argue that designers and editors like Karl Lagerfeld and Anna Wintour are celebrities in their own right), this season, all eyes will be on a certain celeb's runway debut, a certain celeb who has been all over the media thanks to her very high profile divorce to a man named Tom Cruise. Not only will everyone be on the watch for Katie Holmes' fashion line, Holmes & Yang, which she co-designed with stylist and friend Jeanne Yang, it just so happens that Katie will be showing her collection the same day her ex-bestie, Victoria Beckham, shows hers. While Victoria is already considered an established designer and probably won't even concern herself with Katie's debut, the comparisons will be more than likely, and even more so, set to make Katie a nervous newbie. Which begs the most important question: What is Holmes & Yang? Described by Katie in an interview with Style.com as "comfortable clothes that you can wear going from a meeting to being a mom to going on a date." Followed by the luxe explanation, "Everything in the collection is lined in silk and no expense is spared," it's safe to assume that the label falls under the casual-luxe category.

The idea for the clothing line came about in 2009 when Holmes and Yang bonded over a pair of pants and decided there weren't enough luxurious/expensive staples out on the market. (The duo apparently hadn't hear about The Row, you know, that other really expensive line that sells luxury staples.) Regarding the clothing line's inception, Holmes told WWD, "We both love fashion and we both like to sew, although we don’t do the sewing [for Holmes & Yang]…We thought that it might be interesting to create a line. We also thought it was important that we make things here in the U.S.” While it's very considerate that Holmes & Yang thought about the everyday woman when creating their line, "The collection which is priced at retail from $325 for a silk camisole to $2,500 for suede jackets, though a lace and leather gown retails for $9,100," is definitely not considered in the affordable range. (WWD)

The then hush-hush Holmes & Yang line debuted to L.A.'s fashion set at Maxfields, where the label was initially exclusively sold, resulting in solid reviews. Style.com reported, "The collection, done in a palette of cream, navy, and black, features luxe shirts and trousers; textured silk jumpsuits; motorcycle jackets; leather, silk-lined blazers; and ruched strapless dresses worthy of the red carpet." Not bad, huh? Two years later, that high-end line started selling exclusively at Barneys, which now carries the label's full line, including its Fall 2012 collection.

Holmes who has test driven a few pieces from the label on the red carpet (back during her days as Mrs. Cruise) is now known to be out and about wearing a piece or a whole ensemble from her line, whether it's to take Suri to the park or to have a meeting with her divorce attorney. In fact, for her recent Elle cover, Katie wore several pieces from Holmes & Yang, including a leather bustier top and stretch wool skinny pants. How Victoria Beckham of her. While there is no word as to what the Spring 2012 collection will look like or what we can expect from Ms. Holmes' runway debut, one thing is for sure, everyone will be watching.

Jennifer Davidson joined theFashionSpot team as Managing Editor in November 2010. In addition to overseeing the editorial content of the site, she shares her fashion, beauty, and pop culture obsessions in her weekly column The Love List. Prior to joining the tFS team, Jennifer produced fashion segments for television, and is also the co-founder of StyleBakery.com.